Part of your ERISA fiduciary duty as a retirement plan sponsor is to make sure that the services provided to the plan are necessary and the fees paid for these services are reasonable.
Sponsors of employee benefit plans often have questions about many aspects of benefit plan audits. We answer a few of the most common questions.
On August 28, 2018, we will be hosting a CPE training during which attendees will gain an understanding of the history and implications of the U.S. Supreme Court’s decision in South Dakota v. Wayfair and how this case may affect businesses.
Borrowing money from a 401(k) plan has become increasingly popular among employees in recent years and it is important to plan ahead for how you can help employees who leave or join your company and have outstanding loans.
On Dec. 22, 2017, President Trump signed a new tax bill into effect that may significantly impact the number and size of individual financial contributions to nonprofits.
The FASB’s update requires “enhanced” information about your organization’s liquidity and timely access to resources. Two kinds of information are required; together, they can indicate the nonprofit’s ability to meet its cash needs for all the next year’s general expenditures.
Typically, third-party administrators handle the logistics of sending out participant communication and other employee benefit plan disclosures. But this doesn’t relieve you as the plan fiduciary from responsibility for understanding disclosure requirements and making sure they are met.
The proposed Statement on Auditing Standards reflects a new reporting model for audits of ERISA plans that changes the form and content of the auditor’s report when management imposes an ERISA-permitted audit scope limitation.
Corporate philanthropy is changing. Companies are deciding to incorporate philanthropy as a business priority.
Trade spending is a normal part of doing business for many CPG and retail companies, but the accounting and financial reporting varies depending on the type of spending.
According to ERISA, a plan sponsor must be more than a prudent layperson — a sponsor must be a prudent investment professional.